British Minister Tobias Ellwood continued his visit to Pakistan and reaffirmed UK support in developing the future of Pakistan
Tobias Ellwood, Minister for Pakistan, visited Islamabad on 22 September. During his visit he met with Interior Minister Chaudhry Nisar and National Security Adviser Sartaj Aziz amongst others
Speaking following the visit, Mr Ellwood said:
The UK-Pakistan relationship is deep and profound. People-to-people links and the commitment both governments have to working with each other create a partnership that could prosper for many years. Listening to the thoughts of the people I have met I was more convinced than ever that Pakistan could be on the cusp of real change: with a growing middle class, a more stable security environment and the potential for better long-term relationships with its neighbours could drive prosperity, improvement on human rights and increased equality [as above].
I was particularly pleased to be able to meet Commerce Minister Khurram Dastgir Khan and announce that UK Export Finance (UKEF), the UK’s official export credit agency, is not only resuming support for export finance loans to government and other public agencies in Pakistan, but that it has in fact increased the amount of cover available to support UK trade with Pakistan to around $300m from just over $200m. These changes signal a recognition that economic conditions in Pakistan have improved, following the country’s successful engagement with the IMF. The Government of Pakistan is continuing to make strong efforts to tackle the national deficit and debt and this is good news.
During the visit I reaffirmed UK support for Pakistan. I highlighted the steps I feel the country still needs to take in improving the rule of law, protecting human rights and investing in education and public service .but continue to see a bright future for Pakistan
Note for editors
UKEF is also pleased to confirm to buyers in Pakistan that it is able to consider sharia-compliant structures, where appropriate, following its recent guarantee for a sukuk or Islamic bond issue to fund the purchase of four Airbus aircraft by Emirates. This was the first Islamic finance guarantee by an export credit agency, anywhere in the world.
Press Attaché, British High Commission, Islamabad; tel. 051 201 2000